FNB Business Loan

First National Bank’s roots run deep in South Africa, especially when it comes to providing many types of business loans to its clients.

FNB, the oldest bank in the country, provides business loans including small start-up loans, to its many clients. This is ongoing since its humble beginnings in Grahamstown in 1838.

FNB as a provider of loans has history on its side

Today as First Rand Bank Limited, this organisation takes pride in the fact that theirs is a story of survival. The second part of the story is about people. FNB has had a major influence on the people it serves from helping business start-ups to major players in the business world.

FNB engineered a major breakthrough in 1998 when the financial services interest of Anglo American and Rand Merchant Bank Holdings merged to form FirstRand Limited. FNB was delisted from JSE on the 25th of May 1998 to be a wholly-owned subordinate of First Rand.

Kickstart a business with loans 

FNB puts the ball in the customer’s court when it comes to providing various business loans. Clients have the option to choose their loan amount - from R1,000 up to R 400,000.

The loan can be paid off from 1 to 60 months. Clients with small business start-ups can put their minds at rest knowing that at FNB the personal loan re-payment amount is the same each month. Interest rates are fixed, which includes all charges that protect clients from interest rate hikes.

Business loan customers are allowed a payment break

By keeping a business loan up to date, borrowers qualify automatically for a re-payment break every January. This applies to business loans with repayment plans over 6 months

The administrators at FNB understand that life can sometimes be a rollercoaster. Therefore, in the event of a client becoming unemployed, permanently or temporarily disabled, FNB’s Customer Protection Plan (CPP) will take care of all financial matters – even in the case of death.

Clients can also apply for a life insurance policy if they decide to use their insurance. Credit insurance is compulsory if clients are repaying a loan. Clients will not be charged or penalised by FNB should they decide to settle a short-term loan account earlier than expected.

FNB is proud of the fact that they always put the needs of the clients first when it comes to providing business loans for small or established start-ups.

It’s as simple as a click of a mouse to access an application for one of their business loans.

Their FNB website includes an online calculator where clients can insert the amount being applied for. The customer can then choose the payment period and the interest rate, which remains fixed for the payment term.

What clients get with an FNB business loan:   

• Loan amounts up to R400,000
• Repayment terms of from 3 months to 5 years
• Interest rates are fixed for the repayment period
• For business loans of R100,00 repayment period of up to 6 months
• Same day reply to loan applications.

Interest rates will vary depending on credit score and risk profile.

Debt consolidation can help business owners 

Business owners facing a debt problem can lump outstanding debt with credit providers into one convenient loan. In this way, they can enjoy lower monthly repayments and gain control over debt and finances.

This means that the stress and anxiety that come with having to deal with multiple debt collectors are taken away.

Debt consolidation means that business owners can spend less time dealing with debt issues. With debt consolidation, they reduce monthly payments by having one interest rate and only one monthly payment.

Try FNB’s low-interest Credit card 

FNB is aware that many businesses are hard-up for extra cash, which means they are unable to meet certain financial commitments. These business clients can apply for a special credit card that comes with a host of flexible payment options.